Applications & Technology

Collateral Underwriter

Offering powerful collateral risk management for lenders

Collateral Underwriter® (CU®) is a web-based application provided at no charge to help lenders manage collateral risk as part of their underwriting and quality control processes. The application uses appraisal data and advanced analytics to help identify and research appraisals with overvaluation, undervaluation,  appraisal quality, or property eligibility/policy compliance risks.

Collateral Underwriter Availability

Every day, 24 hours a day, except from 1 a.m. to 5 a.m. ET the first and third Sundays each month due to maintenance.

All Technology Application Availability
What's New

CU 5.0 has arrived
Already the most powerful appraisal risk assessment tool in the industry, CU now has a consolidated and enhanced user interface with everything you love in one place, as well as fewer messages with more robust content to help lenders make more informed decisions.


Enjoy certainty on appraised value with freedom from representations and warranties (reps & warrants) on property value for eligible appraisals with CU risk scores of 2.5 or lower as part of Day 1 Certainty®.

Using CU’s advanced search capability to segment appraisals by risk may lead to more efficient reviews, reduced loan cycle times, and enhanced QC processes to improve overall appraisal quality.

Leveraging CU to address appraisal deficiencies may reduce repurchase risk and enable lenders to attain rep & warrant relief on appraisals with elevated risk scores.

Unparalleled data and analytics provide market-specific analysis for relevant, meaningful results.


CU performs a comprehensive analysis of 1004 and 1073 appraisals submitted to the Uniform Collateral Data Portal® (UCDP®) and provides real-time feedback with risk scores, risk flags, and messages. CU’s data-rich web application is designed for lenders to investigate and evaluate risk factors reflected in the CU risk score.

Self-serve job aids in CU provide step-by-step instructions for investigating messages and flags as well as tips on what to consider when evaluating the underlying data.

Leveraging a database of over 50 million appraisals, CU offers a wealth of market data and advanced analytics to help lenders assess and manage their appraisal portfolios, including:

  • Alternative comparable sales
  • Market-level metrics
  • ZIP Code & MSA-level market trends
  • MLS & public records
  • Peer adjustment data
  • Aerial imagery
  • Construction records


CU is provided at no charge to approved Fannie Mae sellers and non-seller correspondent lenders.

Fannie Mae sellers: To register, contact your Technology Manager Corporate Administrator to request access. See the CU User Interface Registration Guide for more information.

Non-seller correspondent lenders: To register, contact your UCDP Lender Administrator (Lender Admin). If you need assistance identifying the UCDP Lender Admins for your organization, contact the UCDP Support Center at 1-800-917-9291 for assistance. See the CU Non-Seller Implementation Guide for more information. 

For general information about accessing Fannie Mae systems, visit the Technology Manager page.

Technology Terms & Conditions

The Technology Terms and Conditions previously provided on this page are now located in the new Consolidated Technology Guide. A PDF version of the Guide and other related content is available on the Consolidated Technology Guide page